Chinese Restaurant And Takeaway In Saffron Walden For Sale

Business description

The particular highlights of the business are:
- Ideally located concern offering excellent lifestyle.
- A well established business.
- Good loyal clientele.
- Fully equipped business with favorable lease terms (see below).
- Turnover in excess of £250,000 pa with a net profit of £20,000. (See financial summary below). This is very impressive considering the credit crunch.
- A business with great potential which has not been exploited because .
- An easily run operation.
- Good loyal well trained staff.
- A good first time buyers business.

History
Agents are delighted to place onto the market this thriving Chinese restaurant and takeaway situated over 4 floors which has been established since 1973. The business has been in the hands of the current owner since inception and he now wishes to sell due to retirement.

Services
This very good business opportunity is family run and provides Chinese food and takeaway

Staffing
The concern employs 6 staff who are full time. Financial details relating to wages will be provided on request.

Owners Role
The owners’ role is managing the business and works when required.

Marketing
The owner does not market the business and does not have a website.

Competition
As far as competition is concerned there are 3 locally and 2 takeaway restaurants.

Market
The client base consists of local community and business persons.

Opportunities
The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Tuesdays.
• With the introduction of a website and e-commerce.

Training and Handover
The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Property information

Property:

Freehold

Lease terms:

The original length of the lease was 20 years with 20 years remaining. The rent is £25,000 pa with a review in 4 years. The lease may be renewable or negotiable for longer term if required. The rates are £2,700.
The business is available Freehold or on Leasehold terms as above

Leasehold rent:

£25,000 per annum

Location:

- Situated in Saffron Walden area of Essex.
- Prominent location on main arterial road.
- Part of a parade of shops.
- Excellent parking facilities nearby.
- Area earmarked for regeneration.
- Surrounded by densely populated residential area with schools and other local amenities.
- Local population consists of local and business persons.
- Area offers exceptional lifestyle.
- High levels of passing trade.
- Good volumes of traffic and pedestrian flow.
- Commercially thriving area.
- Well linked with A1301, M11, A12 and good railway links

Premises details:

Property Details
The property is terraced and is part of a parade of shops and is approximately 100ft x 30 ft. The front is branded with an attractive glass front. The main customer service area is tiled with a bar. It is very well presented and is very conveniently laid out.

The restaurant has 70 covers. The customer service point is to the front of the restaurant. There are customer toilets.

There are a toilet and staff facilities and a fully equipped kitchen.

First Floor
On the first floor there is a restaurant and additional 30 covers.

Second Floor
On the second floor there is 4 bedrooms and a basement which is used for storage

Business Operation

Expansion potential:

The concern has huge potential. In particular the turnover and profits can be increased by:
• Increasing the marketing activity with direct mailings and local and internet advertising.
• Increasing the opening hours to include Tuesdays.
• With the introduction of a website and e-commerce.

Competition / Market:

As far as competition is concerned there are 3 locally and 2 takeaway restaurants

Reasons for selling:

Retirement

Trading hours:

Mon, Wed, Thurs, - 5.00pm – 10.30pm
Fri, Sat, - 12.00noon – 2.00pm then 5.00pm – 11.00pm
Sunday – 12.00noon – 2.30pm then 5.00pm – 10.30pm
Tuesday – Closed

Employees:

The concern employs 6 staff who are full time. Financial details relating to wages will be provided on request

Years established:

1973

Other information

Support & training:

The owner would be available for an extensive training and handover period for the benefit of the new owners if required. The Owner would also be happy for an on the job observation period to assess the business prior to offers being made.

Furniture / Fixtures value:

£50,000 (included in the asking price)

Leasehold asking price:

£100,000 (Furniture / Fixtures included)